E&M Co., Ltd., CNKim Co., Ltd., and Widwin Investment Fund 11 completed the acquisition of 18.42% stake in HansolNexG Co., Ltd from Hansol Secure Co., Ltd. and Hansol Inticube Co., Ltd..
September 06, 2017
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E&M Co., Ltd., CNKim Co., Ltd., and Widwin Investment Fund 11 agreed to acquire 18.42% stake in HansolNexG Co., Ltd (KOSDAQ:A081970) from Hansol Secure Co., Ltd. (KOSDAQ:A070300) and Hansol Inticube Co., Ltd. (KOSDAQ:A070590) for KRW 27.8 billion on June 27, 2017. Hansol Secure Co., Ltd. will sell 1.16 million shares and Hansol Inticube Co., Ltd. will sell 1.06 million shares. E&M Co., Ltd., CNKim Co., Ltd., and Widwin Investment Fund 11 will pay 20% of the down payment at the moment of contract signing and must deposit the remaining 80% of the balance on the day before the meeting of the extraordinary general meeting of shareholders to change the management and change the articles of incorporation, and Hansol Secure must transfer the shares to E&M Co., Ltd., CNKim Co., Ltd., and Widwin Investment Fund 11. As reported on July 4, 2017, CNKim Co., Ltd. acquired 0.6 million shares, representing 10.6% stake in HansolNexG. Board of Directors of Hansol Secure Co., Ltd made a resolution in favor of the transaction on June 27, 2017. The scheduled date of sale is August 28, 2017. The scheduled date for completion is amended to August 24, 2017. As on August 24, 2017, the scheduled date for completion is amended to September 7, 2017. Also as per the amended terms, the balance of the consideration of KRW 22.3 billion and 2.2 million shares will also be paid on the completion date. Nexia-Samduk acted as external rating institution.
E&M Co., Ltd., CNKim Co., Ltd., and Widwin Investment Fund 11 completed the acquisition of 38.6% stake in HansolNexG Co., Ltd (KOSDAQ:A081970) from Hansol Secure Co., Ltd. (KOSDAQ:A070300) and Hansol Inticube Co., Ltd. (KOSDAQ:A070590) on September 7, 2017.
XCure Corp, Ltd., formerly Hansol Secure Co Ltd, is a Korea-based company engaged in the development and provision of smartcards. The Company provides universal subscriber identity module (USIM) cards, including combination USIM cards used for transportation applets and mobile banking; contact USIM cards, which are subscriber modules executing a simple individual authentication function; near field communications (NFC) USIM cards, which make mobile payments by grazing the mobile phone near the payment terminals; giga USIM cards with high capacity memory, as well as banking cards, terminals and arcade game operation information display device (OIDD) cards. It also involves in the development of integrated circuit (IC) card issuing systems. The Company distributes its products within domestic market and to overseas markets.
E&M Co., Ltd., CNKim Co., Ltd., and Widwin Investment Fund 11 completed the acquisition of 18.42% stake in HansolNexG Co., Ltd from Hansol Secure Co., Ltd. and Hansol Inticube Co., Ltd..